Newpark Resources, Inc. (NYSE:NR) Short Interest Down 22.6% in November

Newpark Resources, Inc. (NYSE:NR) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,060,000 shares, a drop of 22.6% from the October 31st total of 1,370,000 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 672,800 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Trading of Newpark Resources

Large investors have recently modified their holdings of the business. Barclays PLC raised its position in Newpark Resources by 155.6% during the 3rd quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock valued at $1,109,000 after purchasing an additional 97,548 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Newpark Resources by 8.6% during the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock valued at $13,454,000 after buying an additional 154,210 shares during the period. M&T Bank Corp raised its holdings in shares of Newpark Resources by 29.6% during the third quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock valued at $2,150,000 after acquiring an additional 70,863 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Newpark Resources by 247.2% during the third quarter. XTX Topco Ltd now owns 81,943 shares of the oil and gas company’s stock valued at $568,000 after acquiring an additional 58,341 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in Newpark Resources by 51.2% in the third quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock worth $199,000 after acquiring an additional 9,725 shares during the period. 80.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Price Performance

Shares of Newpark Resources stock opened at $8.29 on Friday. The company’s fifty day simple moving average is $7.17 and its two-hundred day simple moving average is $7.62. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The firm has a market cap of $717.09 million, a PE ratio of -4.53 and a beta of 2.87. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.